Cardinal Capital Management Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cardinal Capital Management lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 6.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,212 shares of the technology company’s stock after buying an additional 2,775 shares during the quarter. International Business Machines makes up 1.3% of Cardinal Capital Management’s holdings, making the stock its 23rd largest holding. Cardinal Capital Management’s holdings in International Business Machines were worth $8,252,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IBM. Clearbridge Investments LLC lifted its stake in International Business Machines by 5.8% in the 3rd quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock worth $4,827,000 after purchasing an additional 1,891 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in International Business Machines by 18.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 138,941 shares of the technology company’s stock worth $19,493,000 after purchasing an additional 21,886 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in International Business Machines by 6.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 90,209 shares of the technology company’s stock worth $12,656,000 after purchasing an additional 5,394 shares in the last quarter. Valley National Advisers Inc. lifted its stake in International Business Machines by 16.6% in the 3rd quarter. Valley National Advisers Inc. now owns 2,640 shares of the technology company’s stock worth $370,000 after purchasing an additional 375 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC lifted its stake in International Business Machines by 2.7% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 18,867 shares of the technology company’s stock worth $2,808,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IBM shares. JPMorgan Chase & Co. cut their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Wedbush upped their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets dropped their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Down 0.6 %

NYSE:IBM traded down $1.02 during midday trading on Thursday, reaching $170.85. 2,841,892 shares of the stock traded hands, compared to its average volume of 4,569,224. International Business Machines Co. has a 12-month low of $130.91 and a 12-month high of $199.18. The business has a 50-day moving average of $170.34 and a two-hundred day moving average of $176.37. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The stock has a market capitalization of $156.94 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 4.26 and a beta of 0.72.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.91%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.